PRRUX vs. SSFNX

Last updated Jun 23, 2026

PRRUX (Putnam RetirementReady 2050 Fund) and SSFNX (State Street Target Retirement Fund) are both Target Retirement Date funds. Over the past 10 years, PRRUX returned 10.27%/yr vs 5.84%/yr for SSFNX. Their correlation of 0.88 suggests significant overlap in exposure. PRRUX charges 0.03%/yr vs 0.10%/yr for SSFNX.

Performance

PRRUX vs. SSFNX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Putnam RetirementReady 2050 Fund (PRRUX) and State Street Target Retirement Fund (SSFNX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PRRUX achieves a 6.88% return, which is significantly higher than SSFNX's 5.13% return. Over the past 10 years, PRRUX has outperformed SSFNX with an annualized return of 10.27%, while SSFNX has yielded a comparatively lower 5.84% annualized return.

PRRUX

• 1D: 1.06%
• 1M: 1.43%
• YTD: 6.88%
• 6M: 6.52%
• 1Y: 18.06%
• 3Y*: 14.70%
• 5Y*: 8.78%
• 10Y*: 10.27%

SSFNX

• 1D: 0.42%
• 1M: 0.34%
• YTD: 5.13%
• 6M: 5.02%
• 1Y: 12.01%
• 3Y*: 9.36%
• 5Y*: 4.53%
• 10Y*: 5.84%

*Multi-year figures are annualized to reflect compound growth (CAGR)

PRRUX vs. SSFNX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PRRUX Putnam RetirementReady 2050 Fund	6.88%	12.94%	15.08%	21.03%	-15.14%	16.51%	13.46%	20.38%	-9.28%	20.19%
SSFNX State Street Target Retirement Fund	5.13%	10.93%	7.05%	10.73%	-12.21%	6.87%	10.26%	13.97%	-2.49%	8.92%

Correlation

The correlation between PRRUX and SSFNX is 0.88, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.88
Correlation (3Y) Calculated over the trailing 3-year period	0.86
Correlation (5Y) Calculated over the trailing 5-year period	0.87
Correlation (10Y) Calculated over the trailing 10-year period	0.88
Correlation (All Time) Calculated using the full available price history since Oct 1, 2014	0.88

The correlation between PRRUX and SSFNX has been stable across timeframes, ranging from 0.86 to 0.88 - a consistent structural relationship.

Return for Risk

PRRUX vs. SSFNX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

PRRUX

PRRUX Risk / Return Rank: 37
PRRUX Sharpe Ratio Rank: 35
PRRUX Sortino Ratio Rank: 35
PRRUX Omega Ratio Rank: 35
PRRUX Calmar Ratio Rank: 36
PRRUX Martin Ratio Rank: 44

SSFNX

SSFNX Risk / Return Rank: 83
SSFNX Sharpe Ratio Rank: 84
SSFNX Sortino Ratio Rank: 83
SSFNX Omega Ratio Rank: 83
SSFNX Calmar Ratio Rank: 79
SSFNX Martin Ratio Rank: 86

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

PRRUX vs. SSFNX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Putnam RetirementReady 2050 Fund (PRRUX) and State Street Target Retirement Fund (SSFNX). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	PRRUX	SSFNX	Difference
Sharpe ratio: Return per unit of total volatility	1.60	2.54	-0.94
Sortino ratio: Return per unit of downside risk	2.27	3.63	-1.36
Omega ratio: Gain probability vs. loss probability	1.29	1.51	-0.22
Calmar ratio: Return relative to maximum drawdown	2.14	3.40	-1.26
Martin ratio: Return relative to average drawdown	8.76	15.06	-6.30

PRRUX vs. SSFNX - Sharpe Ratio Comparison

The current PRRUX Sharpe Ratio is 1.60, which is lower than the SSFNX Sharpe Ratio of 2.54. The chart below compares the historical Sharpe Ratios of PRRUX and SSFNX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

PRRUX vs. SSFNX - Drawdown Comparison

The maximum PRRUX drawdown since its inception was -28.85%, which is greater than SSFNX's maximum drawdown of -16.62%. Use the drawdown chart below to compare losses from any high point for PRRUX and SSFNX.

Drawdown Indicators

	PRRUX	SSFNX	Difference
Max Drawdown Largest peak-to-trough decline	-28.85%	-16.62%	-12.23%
Max Drawdown (1Y) Largest decline over 1 year	-8.40%	-3.52%	-4.88%
Max Drawdown (3Y) Largest decline over 3 years	-17.75%	-5.40%	-12.35%
Max Drawdown (5Y) Largest decline over 5 years	-21.08%	-16.62%	-4.46%
Max Drawdown (10Y) Largest decline over 10 years	-28.85%	-16.62%	-12.23%
Current Drawdown Current decline from peak	-0.40%	-0.42%	+0.02%
Average Drawdown Average peak-to-trough decline	-3.98%	-2.51%	-1.47%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.05%	0.79%	+1.26%

Volatility

PRRUX vs. SSFNX - Volatility Comparison

Putnam RetirementReady 2050 Fund (PRRUX) has a higher volatility of 4.45% compared to State Street Target Retirement Fund (SSFNX) at 1.99%. This indicates that PRRUX's price experiences larger fluctuations and is considered to be riskier than SSFNX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PRRUX	SSFNX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.45%	1.99%	+2.46%
Volatility (6M) Calculated over the trailing 6-month period	9.06%	3.91%	+5.15%
Volatility (1Y) Calculated over the trailing 1-year period	11.21%	4.70%	+6.51%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.34%	6.62%	+6.72%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.69%	6.58%	+7.11%

PRRUX vs. SSFNX - Expense Ratio Comparison

PRRUX has a 0.03% expense ratio, which is lower than SSFNX's 0.10% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

PRRUX vs. SSFNX - Dividend Comparison

PRRUX's dividend yield for the trailing twelve months is around 1.58%, less than SSFNX's 4.63% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PRRUX Putnam RetirementReady 2050 Fund	1.58%	1.69%	1.40%	1.75%	13.51%	11.30%	1.54%	7.54%	15.23%	5.04%	0.80%	2.32%
SSFNX State Street Target Retirement Fund	4.63%	4.86%	5.78%	5.26%	5.12%	6.69%	1.61%	3.35%	4.40%	2.72%	1.84%	2.05%

Frequently Asked Questions

Can I hold both PRRUX and SSFNX in my portfolio?

PRRUX and SSFNX have a correlation of 0.88, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PRRUX or SSFNX?

PRRUX has higher volatility (4.45%) compared to SSFNX (1.99%). In terms of maximum drawdown, PRRUX dropped -28.85% vs SSFNX's -16.62%.

Which has better risk-adjusted returns?

SSFNX currently has the higher Sharpe Ratio (2.54 vs 1.60), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.